HBC, Canadian Tire could be in trouble next during pandemic: retail expert

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The Hudson’s Bay Company (HBC) and Canadian Tire could be the next retailers to run into trouble during the COVID-19 pandemic, according to one expert who says the companies have failed to adapt to consumers’ evolving shopping habits even before the crisis began.

Retail expert and author Doug Stephens says department stores, in particular, have been under a lot of pressure since physical stores were forced to close during the lockdown period in the spring and consumer spending dramatically fell.Stephens said HBC could be struggling to stay afloat and may have to permanently close some of its locations, as many other retailers have already done, because it has been slow to embrace online shopping.

Stephens said he’s worried about Canadian Tire because it still doesn’t offer home delivery for some of its products. Beyond those specific companies, Stephens expects apparel retailers to continue to have a difficult time as a result of the shift to online purchasing. As far as what the future holds for the wider retail landscape, Stephens said to keep an eye on what happens to those mid-tier regional malls across the country.

Source: News Formal (newsformal.com)

 

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ctc is as busy as ever in my part of the world and was doing a booming business even during the lock down

I’m all good with that anything branded mastercraft is China made for the most part and I’m not about supporting expansionist regimes

HBC is still in business?

I haven't shopped at either for over 10 years

What the hell areyou talking about? Canadian Tire stock has gone up in the last 6 months Clowns just trying to make a story - is getting to be as bad as the losers over at CBCNews

Hudson Bay was in trouble long before the pandemic.

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